RIAA Statement On MGM V. Grokster Supreme Court Ruling

WASHINGTON - June 27, 2005 - In response to the U.S. Supreme Court's ruling today in the case MGM v. Grokster, the Recording Industry Association of America (RIAA) issued the following statement from Chairman and CEO Mitch Bainwol:

"With this unanimous decision, the Supreme Court has addressed a significant threat to the U.S. economy and moved to protect the livelihoods of the more than 11 million Americans employed by the copyright industries. The Supreme Court has helped to power the digital future for legitimate online businesses – including legal file sharing networks – by holding accountable those who promote and profit from theft. This decision lays the groundwork for the dawn of a new day – an opportunity that will bring the entertainment and technology communities even closer together, with music fans reaping the rewards."

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The Recording Industry Association of America (RIAA) is the trade organization that supports and promotes the creative and financial vitality of the major music companies. Its members are the music labels that comprise the most vibrant record industry in the world. RIAA® members create, manufacture and/or distribute approximately 85% of all legitimate recorded music produced and sold in the United States.

In support of this mission, the RIAA works to protect the intellectual property and First Amendment rights of artists and music labels; conduct consumer, industry and technical research; and monitor and review state and federal laws, regulations and policies. The RIAA® also certifies Gold®, Platinum®, Multi- Platinum™ and Diamond sales awards as well as Los Premios De Oro y Platino™, an award celebrating Latin music sales.